Financial Services UK

  • June 09, 2025

    Media Biz Chair Who Misled Investors Told To Buy Out Shares

    The chairman of a media company has been ordered to buy out a minority shareholder after a London appeals court said Monday that he had deliberately deceived investors about his attempts to work towards selling the company.

  • June 09, 2025

    Lex Greensill Claims SoftBank Hid Deal With 'Code Of Silence'

    Lex Greensill testified in a $440 million London trial Monday that SoftBank, a Japanese investment company, had designed a restructuring agreement involving his firm to avoid putting potential losses on its accounts in his first public appearance since his eponymous firm's collapse.

  • June 09, 2025

    Investment Biz CEO Hit For £2.8M Over Exec's Drinks Loan

    A former executive at a U.S. subsidiary of a London investment fund is suing the firm and its founder for about $3 million after they allegedly failed to repay a short-term loan to cover the costs of the company's investment in a drinks company.

  • June 09, 2025

    Ex-Commerzbank Analyst Denies Faking Sex Assault Claims

    A former Commerzbank analyst on Monday fought claims that he lied to a court by making false sexual assault allegations in his failed harassment case against the bank, telling a London court he was being truthful.

  • June 09, 2025

    UK Leads Europe On FDI In Financial Services, EY Says

    The U.K. continues to be Europe's most attractive destination for foreign direct investment into financial services, despite a drop in the number of projects across the region, Ernst & Young said on Monday.

  • June 09, 2025

    FCA Proposes Reporting Changes For Fund Managers

    The Financial Conduct Authority has proposed that it will reduce requirements for U.K. fund managers on how they report on value for investors, a move that would enable significant cost cuts.

  • June 09, 2025

    Broking Group Howden Buys Peruvian Reinsurance Biz

    Howden Group said Monday that it has bought Peruvian reinsurance broker Innova Re, marking a further broadening of the insurance broking giant's footprint in Latin America.

  • June 09, 2025

    FCA, NVIDIA Team Up To Launch AI Testing Sandbox

    The Financial Conduct Authority said Monday it will launch a supercharged sandbox in collaboration with multinational technology company NVIDIA to help firms experiment safely with artificial intelligence to support innovation.

  • June 06, 2025

    Reality TV Gallery Owner Gets 2½ Years On Terrorism Charges

    An art gallery owner and reality TV art expert was sentenced to over two years' imprisonment at a London criminal court on Friday for failing to report his suspicions when selling around £140,000 ($189,400) worth of art to a suspected terrorist financier.

  • June 06, 2025

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen MGM and the owners of the "Addams Family" trademark sue a private equity firm, two Cambridge colleges file for injunctions against Pro-Palestine student protest groups and a former NBA player brings a claim against Orrick Herrington & Sutcliffe LLP.

  • June 06, 2025

    Labour Gov't Eases Carried Interest Rules On Fund Managers

    The Labour government has unveiled a series of concessions on changes to the tax rules for carried interest, the investment income passed onto fund managers, following a consultation on the plans.

  • June 06, 2025

    Court Rebukes Lawyers For Fake AI-Generated Citations

    A London court referred a barrister and solicitor to their professional regulators on Friday for citing cases that do not exist and warned that freely available generative artificial intelligence tools such as ChatGPT are not capable of conducting reliable legal research.

  • June 06, 2025

    Switzerland Plans Tax Data Reporting For Crypto

    The Swiss government said Friday that it has approved a plan to extend the automatic exchange of information for tax matters to apply to crypto-assets.

  • June 06, 2025

    Mental Health Moratorium Can't Stop Principal Debt Recovery

    A London appellate court ruled Friday that a man in a mental health crisis cannot prevent lenders from repossessing properties used to secure loans worth approximately £1.9 million (£2.6 million), concluding that the principal amounts were not affected by a moratorium on repayments.

  • June 06, 2025

    FCA Proposes Lifting Ban On Crypto ETNs For Consumers

    The Financial Conduct Authority proposed Friday to lift its ban on crypto exchange-traded notes for consumers in a move to support U.K. growth and competitiveness, with similar products already available in other countries.

  • June 06, 2025

    UK To Launch Delayed Second Phase Of Pensions Review

    The government said it will soon launch the delayed second phase of its pensions review, in what experts hope could be the biggest shakeup for the sector for 20 years.

  • June 06, 2025

    UK Pensions Bill To Transform Trustees' Role, Watchdog Says

    Britain's retirement savings watchdog has said it will look to other regulators and governance standards for guidance to ensure that pensions trusteeship is ready for the "transformational" impact of reforms that have recently been announced.

  • June 06, 2025

    From Russia With Love? UK Lawyers Mull Sanctions U-Turn

    Finance companies are enlisting white-collar lawyers to draw up plans for tapping back into Russia if the U.S. breaks with its Western allies and eases sanctions, although experts warn that unpredictable political winds mean there are as many risks as opportunities.

  • June 06, 2025

    UK Floats Legislative Fix For Virgin Media Pensions Case

    The government has said it will push through legislation to deal with the legal fallout for pension trustees from a landmark Court of Appeal ruling in 2024.

  • June 06, 2025

    EY Law Steers AIB On Sale Of 49.9% Stake In Payments Biz

    Financial services giant AIB Group PLC revealed on Friday it has signed an agreement to sell its 49.9% holding in its payment systems business to Fiserv, Inc., a global fintech company based in the U.S.

  • June 06, 2025

    Macquarie Completes £700M Takeover Of Dutch Waste Biz

    Australian financial services giant Macquarie Group has completed its takeover of Dutch waste management business Renewi PLC in a deal worth approximately £700 million ($949 million), the companies said on Friday.

  • June 05, 2025

    Meta Pressed By MPs Over Slow Removal Of Harmful Content

    A group of influential MPs said Friday that they have written to Meta asking the Facebook-owner to explain its tardy responses to requests by the City watchdog for the removal of harmful content from financial influencers appearing on its platforms.

  • June 05, 2025

    UK Pension Assets Hit £3.2T Amid Shift To Private Markets

    The total value of U.K. pensions grew by 11% in 2024 to £3.2 trillion ($4.3 trillion), the Pensions Policy Institute has said, noting a movement to private market investment in a "period of transition" in Britain.

  • June 05, 2025

    Trading Biz Can't Short Circuit Trial Against Former GC

    A London judge said Thursday that a trading services company must go to trial to prove that its former general counsel misused confidential information, citing a possibility that the business abused the lawyer-client relationship.

  • June 05, 2025

    Credit Suisse Says Greensill Deals Left $440M Debt Unpaid

    Greensill Capital coordinated with SoftBank to enter into "improper" transactions which caused Credit Suisse investors to lose $440 million in debt, a lawyer for a sub-fund for the collapsed Swiss bank told the first day of trial Thursday.

Expert Analysis

  • A Look At UK, EU And US Cartel Enforcement Trends

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    The European Union, U.K. and U.S. competition agencies' recently issued joint statement on competition risks in generative artificial intelligence demonstrates increased cross-border collaboration on cartel investigations, meaning companies facing investigations in one jurisdiction should anticipate related investigations in other jurisdictions, say lawyers at Latham & Watkins.

  • Testing The Limits Of English Courts' Pro-Arbitration Stance

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    Although the Court of Appeal recently upheld a $64 million arbitration award in Eternity Sky v. Zhang, the judgment offers rare insight into when the English courts’ general inclination to enforce arbitral awards may be outweighed by competing policy interests such as consumer rights, say Declan Gallivan and Peter Morton at K&L Gates.

  • What Green Claims Directive Proposal Means For Businesses

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    With the European Union’s recent adoption of a general approach to the proposed Green Claims Directive, which will regulate certain environmental claims and likely be finalized next year, companies keen to publicize their green credentials have even more reason to tread carefully, say Marcus Navin-Jones and Juge Gregg at Crowell & Moring.

  • £43M Legal Bill Case Shows Courts' View On Exchange Rates

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    A recent Court of Appeal decision declined to change the currency used for payment of the Nigerian government's legal bill, aligning with British courts' consensus that they should not be concerned with how fluctuating exchange rates might benefit one party over another, says Francis Kendall at Kain Knight.

  • Examining The EU's New Payments Services Package

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    Following recent European Parliament elections, the spotlight is turning to the highly anticipated payments services package expected in September, marking a pivotal moment in the legislative process that will reshape the payment services ecosystem in the European Union, says Kristýna Tupá and Karolína Hlavinková at Schoenherr.

  • Examining The State Of Paccar Fixes After General Election

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    Following the U.K. Supreme Court's Paccar decision last year, which made many litigation funding agreements for opt-out collective actions in the Competition Appeal Tribunal unenforceable, the judiciary will likely take charge in implementing any fixes — but the general election has created uncertainty, says Ben Knowles at Clyde & Co.

  • EU Reports Signal Greenwashing Focus For Financial Sector

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    Reports from the European Supervisory Authorities on enforcement of sustainability information, plus related guidance issued by the European Securities and Markets Authority, represent a fundamental change in how businesses must operate to maintain integrity and public trust, say Amilcare Sada and Matteo Fanton at A&O Shearman.

  • Opinion

    Without Change, Fighting Fraud Is A Losing Battle For The UK

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    To successfully fight fraud cases in the U.K. — like the Russian Coms scam recently shut down by the National Crime Agency — it is clear there needs to be significant investment in recruiting and training expert investigators, and meaningful engagement between the country’s intelligence platforms, says Anthony Hanratty at Howard Kennedy.

  • Embedding Consumer Duty: 6 Areas Firms Should Prioritize

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    The Financial Conduct Authority has repeatedly emphasized that complying with the Consumer Duty is not a tick-box exercise but an ongoing responsibility, so firms need to show that the duty is at the heart of their practices by staying compliant in areas from cultural change to customer vulnerability, say Nicola Higgs and Becky Critchley at Latham.

  • 2 UK Rulings Highlight Persistent Push Payment Fraud Issues

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    Two recent High Court decisions, Larsson v. Revolut and Terna DOO v. Revolut, demonstrate that authorized push payment fraud continues to cause headaches for consumers and financial institutions alike, and with forthcoming mandatory reimbursement requirements, more APP fraud litigation can be expected, say lawyers at Charles Russell.

  • Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling

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    The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.

  • Key Points From UK Prospectus Regime Reform Consultation

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    The Financial Conduct Authority's current consultation on U.K. prospectus regime reform proposals, including when a prospectus will be required and the requirements concerning content, is designed to enhance the attractiveness of the U.K.'s capital markets, say lawyers at Sullivan & Cromwell.

  • Why NCA's 1st Seizure Of Sanctioned Funds Is Significant

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    The National Crime Agency’s recently secured forfeiture of a Russian oligarch's sanctioned funds was a landmark achievement, and is particularly notable because it was made under the Proceeds of Crime Act, illustrating how U.K. authorities can coordinate their respective powers to confiscate assets, says Lindsey Cullen at WilmerHale.

  • Takeaways From New FCA Rules On Research Payments

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    The Financial Conduct Authority’s recently published final rules on payment optionality for investment research, which involve a client disclosure obligation option, will be welcome news for U.K. managers who buy investment research from U.S. brokers, and for global asset management groups, says Anna Maleva-Otto at Schulte Roth.

  • What To Expect From Labour's Pension Schemes Bill

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    The Labour government’s recently announced Pension Schemes Bill, outlining key policy areas affecting the retirement savings sector, represents a positive step forward for both defined contribution scheme members and defined benefit superfunds, but there are some missing features, says Sonya Fraser at Arc Pensions.

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